{"id":"https://openalex.org/W2806320935","doi":"https://doi.org/10.1108/sef-01-2014-0022","title":"Market efficiency and the global financial crisis: evidence from developed markets","display_name":"Market efficiency and the global financial crisis: evidence from developed markets","publication_year":2018,"publication_date":"2018-06-07","ids":{"openalex":"https://openalex.org/W2806320935","doi":"https://doi.org/10.1108/sef-01-2014-0022","mag":"2806320935"},"language":"en","primary_location":{"id":"doi:10.1108/sef-01-2014-0022","doi":"https://doi.org/10.1108/sef-01-2014-0022","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sef-01-2014-0022","pdf_url":null,"source":{"id":"https://openalex.org/S141165859","display_name":"Studies in Economics and Finance","issn_l":"1086-7376","issn":["1086-7376","1755-6791"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Studies in Economics and Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041675367","display_name":"Omid Sabbaghi","orcid":"https://orcid.org/0000-0002-6361-8866","observed_orcids":["https://orcid.org/0000-0002-6361-8866"]},"institutions":[{"id":"https://openalex.org/I71792333","display_name":"University of Detroit Mercy","ror":"https://ror.org/0037qsh65","country_code":"US","type":"education","lineage":["https://openalex.org/I71792333"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Omid Sabbaghi","raw_affiliation_strings":["College of Business Administration, University of Detroit Mercy, Detroit, Michigan, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Business Administration, University of Detroit Mercy, Detroit, Michigan, USA","institution_ids":["https://openalex.org/I71792333"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5059702196","display_name":"Navid Sabbaghi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I177081203","display_name":"Saint Mary's College of California","ror":"https://ror.org/01hgj5t98","country_code":"US","type":"education","lineage":["https://openalex.org/I177081203"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Navid Sabbaghi","raw_affiliation_strings":["Department of Business Analytics, School of Economics and Business Administration, Saint Mary\u2019s College of California, Moraga, California, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Analytics, School of Economics and Business Administration, Saint Mary\u2019s College of California, Moraga, California, USA","institution_ids":["https://openalex.org/I177081203"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.6396,"has_fulltext":false,"cited_by_count":17,"citation_normalized_percentile":{"value":0.9035031,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"35","issue":"3","first_page":"362","last_page":"385"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-efficiency","display_name":"market efficiency","score":0.8360000252723694},{"id":"https://openalex.org/keywords/weak-form-market-efficiency","display_name":"weak-form market efficiency","score":0.8600000143051147},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.9919999837875366},{"id":"https://openalex.org/keywords/developed-stock-markets","display_name":"developed stock markets","score":0.9380000233650208},{"id":"https://openalex.org/keywords/adaptive-market-hypothesis","display_name":"adaptive market hypothesis","score":0.8809999823570251},{"id":"https://openalex.org/keywords/technical-analysis","display_name":"technical analysis","score":0.8130000233650208},{"id":"https://openalex.org/keywords/moving-average-trading-rules","display_name":"moving average trading rules","score":0.9190000295639038},{"id":"https://openalex.org/keywords/return-predictability","display_name":"return predictability","score":0.8989999890327454},{"id":"https://openalex.org/keywords/us-stock-market","display_name":"US stock market","score":0.8069999814033508}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7231609225273132},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.6511094570159912},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.598946213722229},{"id":"https://openalex.org/C29368100","wikidata":"https://www.wikidata.org/wiki/Q724931","display_name":"Efficient-market hypothesis","level":4,"score":0.5955469608306885},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.5849425196647644},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.5752965211868286},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5592190623283386},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5080692768096924},{"id":"https://openalex.org/C154600224","wikidata":"https://www.wikidata.org/wiki/Q5449728","display_name":"Financial market efficiency","level":3,"score":0.4884175658226013},{"id":"https://openalex.org/C33400823","wikidata":"https://www.wikidata.org/wiki/Q1419119","display_name":"Market depth","level":4,"score":0.4530945420265198},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.43400490283966064},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4319915473461151},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.42638760805130005},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3538125157356262},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.22402027249336243},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20672741532325745},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1108/sef-01-2014-0022","doi":"https://doi.org/10.1108/sef-01-2014-0022","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sef-01-2014-0022","pdf_url":null,"source":{"id":"https://openalex.org/S141165859","display_name":"Studies in Economics and Finance","issn_l":"1086-7376","issn":["1086-7376","1755-6791"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Studies in Economics and Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:sef000:sef-01-2014-0022","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/SEF-01-2014-0022.html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:eme:sefpps:sef-01-2014-0022","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/SEF-01-2014-0022/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":42,"referenced_works":["https://openalex.org/W609475615","https://openalex.org/W1484799109","https://openalex.org/W1587618217","https://openalex.org/W1807452827","https://openalex.org/W1963569934","https://openalex.org/W1971592771","https://openalex.org/W1977673367","https://openalex.org/W1993535295","https://openalex.org/W1994321501","https://openalex.org/W1995945562","https://openalex.org/W2004412454","https://openalex.org/W2006109883","https://openalex.org/W2015539243","https://openalex.org/W2019851767","https://openalex.org/W2024015179","https://openalex.org/W2026487402","https://openalex.org/W2036114297","https://openalex.org/W2044128466","https://openalex.org/W2044191245","https://openalex.org/W2049206350","https://openalex.org/W2057354277","https://openalex.org/W2067374063","https://openalex.org/W2070509242","https://openalex.org/W2073155867","https://openalex.org/W2081691993","https://openalex.org/W2084130597","https://openalex.org/W2093272448","https://openalex.org/W2098078338","https://openalex.org/W2101544483","https://openalex.org/W2108446661","https://openalex.org/W2110982500","https://openalex.org/W2121938114","https://openalex.org/W2130171260","https://openalex.org/W2134752891","https://openalex.org/W2140014703","https://openalex.org/W2163488659","https://openalex.org/W2166368077","https://openalex.org/W2167866999","https://openalex.org/W2187750810","https://openalex.org/W3023906401","https://openalex.org/W3121242749","https://openalex.org/W3123598380"],"related_works":["https://openalex.org/W2552505626","https://openalex.org/W313589874","https://openalex.org/W1992739381","https://openalex.org/W7213876788","https://openalex.org/W7058075261","https://openalex.org/W3121286439","https://openalex.org/W7058204664","https://openalex.org/W3125919311","https://openalex.org/W3123417702","https://openalex.org/W4402139844"],"abstract_inverted_index":{"Purpose":[0],"This":[1,190],"study":[2,41,69,124,166,191,219],"aims":[3],"to":[4,88,126,221],"provide":[5],"one":[6,193],"of":[7,12,45,74,133,160,181,194,199,215,225,233,247],"the":[8,19,26,40,54,64,68,72,81,84,96,105,113,119,134,142,158,161,164,168,172,195,206,222,231,243],"first":[9,196],"empirical":[10,197,226],"investigations":[11,198],"market":[13,51,87,129,200,239,249],"efficiency":[14,52,130,201,240,250],"for":[15,36,53,131,157,178,202],"developed":[16,55,75,135,203],"markets":[17,76,136,204],"during":[18,205],"recent":[20,207],"global":[21,208],"financial":[22,209,235],"crisis.":[23],"Design/methodology/approach":[24],"Using":[25],"Morgan":[27],"Stanley":[28],"Capital":[29],"International":[30],"(MSCI)":[31],"country":[32],"indices":[33],"as":[34,92,146],"proxies":[35],"national":[37],"stock":[38,238],"markets,":[39],"conducts":[42],"a":[43,234],"battery":[44],"econometric":[46,216],"tests":[47,98],"in":[48],"assessing":[49],"weak-form":[50,78,93,128],"markets.":[56],"Findings":[57],"The":[58,218],"inferential":[59],"outcomes":[60],"are":[61,77],"consistent":[62,140],"among":[63],"different":[65,97],"tests.":[66,217],"Specifically,":[67],"finds":[70],"that":[71,171,228],"majority":[73],"efficient":[79],"while":[80],"USA":[82,162],"is":[83],"sole":[85],"equity":[86],"be":[89,176],"commonly":[90],"diagnosed":[91],"inefficient":[94],"across":[95],"when":[99,111],"using":[100,211],"full":[101,165],"period":[102],"data":[103],"spanning":[104],"January":[106],"2008-November":[107],"2011":[108],"period.":[109],"However,":[110],"basing":[112],"analysis":[114,156],"on":[115,237],"one-year":[116],"subsamples":[117],"over":[118,163],"identical":[120],"time":[121],"period,":[122,167],"this":[123],"fails":[125],"reject":[127],"all":[132],"and":[137,150,241,245],"presents":[138],"evidence":[139],"with":[141],"Adaptive":[143],"Market":[144],"Hypothesis":[145],"described":[147],"by":[148],"Urquhart":[149],"Hudson":[151],"(2013).":[152],"When":[153],"applying":[154],"technical":[155],"case":[159],"results":[169],"indicate":[170],"return":[173],"predictabilities":[174],"can":[175],"exploited":[177],"some":[179],"horizon":[180],"variable":[182],"length":[183],"moving":[184],"average":[185],"(VMA)":[186],"trading":[187],"rules.":[188],"Originality/value":[189],"provides":[192],"crisis":[210,236],"an":[212],"extended":[213],"set":[214],"contributes":[220],"existing":[223],"body":[224],"research":[227],"formally":[229],"assesses":[230],"impact":[232],"underlines":[242],"significance":[244],"relevance":[246],"examining":[248],"through":[251],"subsample":[252],"analysis.":[253]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":2}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2018-06-13T00:00:00"}
